Licensed & Regulated Casinos
An online casino that is licensed and regulated by a government or industry body will be much more trustworthy for many reasons. For one, a regulatory body is a third-party that can receive complaints a player may have against an online casino. This diminishes the power that a casino has in the casino/player relationship by allowing a larger organization to impose fines and sanctions on casinos that do not comply with regulations.
One example of a regulatory body is the Kahnawake Gaming Commission. Its main principles work towards making sure that casinos offer fair games to players and pay out winners. When licensees have failed to meet regulatory requirements in the past, the KGC has imposed sanctions and ensured that victimized players were refunded their money. They also have monthly audits and monitoring conducted on licensees to guarantee compliance with policies on game fairness for players.
Most regulatory bodies will require casinos licensed under them to abide by a few common practices. For instance, slot machine games at online casinos will often be required to adhere to a minimum payout percentage. Another common requirement is for players to receive prompt payment of winnings when they wish to be cashed out.
Perhaps the most important aspect of why licensed and regulated online casinos are more trustworthy is the payout guarantees of many regulatory commissions. As it is vital for players to be confident of receiving their winnings if they are to keep playing, some regulatory bodies provide coverage for winnings in the unlikely event that a licensee is unable to pay. With a guarantee like this, a regulatory body will only license those online casinos that will operate honestly, so players may be sure that such licensed casinos can be trusted.
To find out what online casinos are licensed and regulated, read our Casino Reviews.
